Current Issue

IRS bumps up HSA contribution max for 2015

Comments Email

By Jerry Geisel, Crain News Service

WASHINGTON (April 24, 2014) — The maximum contributions that can be made to health savings accounts (HSAs) will increase $50 for individuals and $100 for families in 2015.

The Internal Revenue Service announced April 23 that the maximum contribution that can be made to an HSA in 2015 will be $3,350 for employees with single coverage—up from $3,300 this year.

The maximum HSA contribution for those with family coverage will be $6,650—up from $6,550.

The maximum out-of-pocket employee expense, including deductibles, will rise next year to $6,450 for single coverage from $6,350. For family coverage, it will increase to $12,900 from $12,700.

Increases in the HSA limits, which are detailed in Revenue Procedure 2014-30, are tied to changes in the cost of living.

This report appeared on the website of Crain’s Business Insurance magazine, a Chicago-based sister publication of Tire Business.

More Polls>

TB Reader Poll

Previous | Published December 4, 2017

What do you think of the tax reform proposal before Congress?

I’m in favor of it—it’s good for business
29% (27 votes)
It doesn’t go far enough in helping small business.
12% (11 votes)
I’ll wait to see the final bill.
19% (18 votes)
It’s going to hurt the middle class.
40% (37 votes)
Total votes: 93
More Polls »